Adani group Buy NDTV: A subsidiary of the Adani Group has indirectly acquired 29.18 per cent in NDTV and launched an open offer, The Hindu reported today.
The group also issued a press release on the acquisition, calling it an “important milestone” in its journey to “pave the way for new media on the platform”.
AMG Media Networks Ltd, a wholly owned subsidiary of Adani Enterprises, acquired a “100% equity stake” in Vishwapradhan Commercial Pvt Ltd. According to the press release, Vishwapradhan “exercised his rights” to acquire 99.5 per cent equity shares of the holding company of NDTV.
Sanjay Puglia, CEO, AMG Media Networks Ltd. said, “AMNL seeks to empower Indian citizens, consumers and those interested in India with information and knowledge. With its leading position in news and its strong and diverse reach across genres and geographies With this, NDTV is the most suitable broadcast and digital platform to fulfill our vision.”
On the open offer, Economic Times reported that Adani Enterprises along with two others have made an open offer to buy 26 per cent stake in NDTV at Rs 294 per share.
However, NDTV has called it a “baseless rumour”. In a disclosure to the Bombay Stock Exchange on 22 August, NDTV said, “Radhika and Prannoy Roy are no longer in discussions with any entity for change of ownership or disinvestment of their stake in NDTV.”